North America

Indian'shares' fell on Friday due to the rise in oil prices, which reached above $100 a barrel as the Middle East crisis intensified. By 9:40 a.m. IST the benchmark Nifty 50 index fell by 0.8% to 23,678, and the BSE Sensex dropped by 0.91%, to 75,700.9, putting both indexes on track for a fifth consecutive session of losses. This week they have lost between 2.7% and 3.1%, which is their worst performance for the last four months. U.S. president Donald?Trump on Thursday promised to "majorly punish" Iran and its Houthi ally after Yemeni 'fighters' attacked two Saudi oil tanks in...

Indian shares?opened?lower on Friday. Pressured?by a rise in Brent crude?to over $100?per barrelas?the Middle?East crisis escalates. A slide in IT company Infosys, and airline operator IndiGo due to weaker than expected earnings further hurt the sentiment. By 9:15 a.m. IST the benchmark Nifty 50 slid 0.85% to 23,666.35, and the BSE Sensex fell?0.89%, to 75,708.19, putting both indices on course to suffer their fifth consecutive session of losses. U.S. president Donald?Trump on Thursday promised "major punishment" against?Iran, and its allied?Houthi fighters after they attacked two Saudi oil tanks in the Red Sea. This extended the Middle East conflict to a...

The U.S. Coast Guard reported?on Thursday? that a Kenmore Air Seaplane in Washington State with 11 people aboard landed 'in an emergency situation near Sucia Island before catching fire. However, everyone was safe after the rescue operation. Kenmore Air, largest U.S. Seaplane carrier, reported that a de Havilland DHC-3 Otter aircraft, which had departed Lake?Union in Seattle, was involved an accident at Shallow Bay, near?Sucia Island, around 5:15 p.m. (0015 GMT). The Coast Guard released an image of the seaplane burning in the water near the crash site. Sucia Island is located in Washington's San Juan Islands, north of Seattle...

American Airlines lowered its full-year forecast profit on Thursday, as renewed U.S.-Iran conflict pushed up oil prices anew. This increased the fuel bill. The carrier expects a loss adjusted of 65c per share and a profit adjusted of 65c per share. This is compared to its previous forecast of?an adjusted loss?of 40c to a profit?of $1.10/share. In premarket trading, shares of the airline dropped by about 4%. This move shows how unstable fuel markets have affected airline earnings forecasts, due to renewed U.S. - Iran fighting and reduced 'traffic' through the Strait of Hormuz. Before the war, about a fifth...

Chinese titanium suppliers used this week's 'Farnborough Airshow' to court aerospace customers. They bet that tight global supplies of a critical metal will outweigh any concerns about U.S. Tariffs. Titanium is a vital material in aircraft production because of its light weight, strength and corrosion resistance. It's used for landing gear, jet engines and airframes. Supplies have been squeezed by a number of shocks over the past few years. From the COVID-19 pandemic to Western sanctions against Russia, a major producer of titanium after its full-scale invasion in Ukraine 2022. To U.S. Tariffs on Chinese Imports under President Donald Trump....

EasyJet will contact the regulators in the European Union over ownership regulations as soon as the 'British carrier' has received a formal offer from one of its potential suitors. CEO Kenton Jarvis responded to the report on Thursday. Reports on Wednesday said that the EU could tighten airline ownership regulations, which would potentially complicate easyJet's takeover. Both of easyJet’s bidders, Apollo and Castlelake, are based in the United States. The airline has chosen Apollo's PS5.7billion ($7.6billion) bid over Castlelake's?lower offer. Jarvis explained that the board would consider both value and deliverability in evaluating any 'offer. Deliverability includes, for example, being...

These are the most popular stories in the Wall Street Journal. The?has not?verified these stories and?does not?vouch for their accuracy. Union Pacific has struck a deal with Canadian National Railway in which it will give Montreal Railway more access to the Midwest, in exchange for the company ending its opposition to Norfolk Southern's merger with the American railroad. After the companies made concessions in relation to film distribution, the European Union has approved Paramount's $81 Billion bid to purchase Warner Bros Discovery. IBM CEO Arvind Krsna urged the company to shift its sales force away from large licensing deals and...

Data from the U.S. shows that the demand for jet fuel in the U.S. reached a record last week, as soccer fans descended on New York and New Jersey to watch Spain play Argentina in the World Cup final. Energy Information Administration reported on Wednesday. The data shows that the U.S. jet fuel product supplied, which is the EIA’s way of measuring the demand for fuel based on how much fuel is leaving refineries and primary sources of supply, reached 2.15 million barrels a day in the week ending July 17. EIA data shows that the previous weekly record was...

Southwest Airlines predicted third-quarter profits?below Wall Street's expectations on Wednesday. After renewed U.S. - Iran?fighting, fuel prices rose again. This overshadowed the benefits from strong?travel demands and gains made by?assigned seats and extra legroom offerings. The shares of the carrier dropped more than 2% during extended trading after it predicted adjusted earnings for full year of $3.25 - $4.25 per share. This was below its previous forecast at least $4. U.S. Airlines have increased fares, baggage fees and schedules in order to offset the soaring fuel costs that have added billions of dollar to industry expenses. U.S. airlines' fuel bills...

The U.S. National Transportation Safety Board announced on 'Wednesday that it had not ruled out the possibility of age or service problems in a?investigation into an occurrence in which a passenger was partially sucked out a broken window in a Boeing 737 NG after an engine failure. The letter contradicts Ryanair CEO Michael O'Leary, who on Monday said that an initial investigation found "foreign objects damage", and not the age of the aircraft or its servicing conditions. Jennifer Homendy, Chair of the NTSB, wrote to O'Leary in a letter that the NTSB had not reached this conclusion. Our investigators are...

As the Farnborough International Airshow nears its conclusion in the United Kingdom, airlines have revealed over 300 plane orders. Boeing has a slight advantage over European rival Airbus in the race for sealing deals, according to a tally. Here are some of the biggest deals, with 327 firm orders. This is slightly more than?the previous Farnborough airshow in 2024. The?tally falls short of the 800 orders that were expected, due to supply-chain issues and production bottlenecks. SMBC AVIATION CAPITAL Boeing and SMBC Aviation Capital have announced that they have ordered 100 737-MAX aircraft, 60 737-10 jets and 40 737-8. SMBC...

Alaska?Air Group's profitability returned in June, with a pretax margin of double digits despite fuel costs being nearly 70% higher compared to a year ago. CEO Ben Minicucci announced this on Wednesday during the airline's quarterly earnings conference call. The fuel price spike would have made the airline's second-quarter "solidly profitable", he said. Alaska?Air forecast adjusted third-quarter earnings ranging between?breakeven and $1 per share. According to LSEG, the midpoint was 50 cents which is well below the average analyst estimate of $1.38. In midday trading, shares were down by about 4%. The demand remained strong despite the higher fares. This...

Brent oil prices hovered above $100 per barrel Friday, heading for a fourth week of gains. This was largely due to concerns over disrupted energy flow in the Red Sea as well as fears about escalation of the U.S. and Israeli war against Iran. Brent futures rose 37 cents or 0.37% to $101.06 per barrel at 0330 GMT. The previous session, the price of a barrel had risen 7% over $100 for the first since May after Iran-aligned Houthis claimed they had struck two Saudi oil tanks in the Red Sea. The contract was on track for a 14.6% increase...

The oil market was set to see gains this week as Houthi attacks on tankers in Red Sea raised concerns about the closure of a second shipping snare. Meanwhile, Kazakhstan temporarily reduced its output after its main export route had been forced to close. Brent futures eased?72 Cents, or 0.72 %, to $99.97 per barrel at 0126 GMT but remain on track for a 13.5% gain this week. West Texas Intermediate futures (WTI) fell 70 cents or 0.76% to $91.49 per barrel. They are on course for a weekly gain of 10.9%. Brent and WTI both rose by 7% on...

U.S. Energy officials questioned PJM's 'power structure' on Thursday, as regulators weighed reforms for the country's biggest power grid. The grid faces growing risks of blackouts due to a 'data center demand that soars' and 'little new electricity supply' is added. PJM, a company that covers 67 millions Americans in the Mid-Atlantic region and the 'Midwest', including the largest concentration of data centres in the world, has been struggling with power shortages and rising electricity prices ever since the demand for the region started to increase two years ago. At a Federal Energy Regulatory Commission technical conference, officials from the...

U.S. 'energy officials' pushed Thursday for greater transparency and independence in PJM Interconnection as regulators consider reforms to the country’s largest power grid. PJM faces a growing risk of blackouts due to the soaring?data centre?demand while fewer new electricity supplies are being added. PJM has been struggling with power shortages and rising electricity prices ever since the demand for electricity in the Mid-Atlantic region increased two years ago. At a Federal Energy Regulatory Commission technical conference, officials from the White House and state governments met with power industry executives to discuss possible solutions to PJM’s supply and pricing problems. Some...

Federal judge rules that New York City can't prohibit?Uber Technologies or Lyft from deactivating their drivers without prior notice. The novel law, he says, is unconstitutional. U.S. District Judge Gregory Woods, in Manhattan, said in a written ruling on Tuesday that New York City's new law benefits only a small number of drivers and interferes with ride-hailing firms' rights to monitor the safety of their platforms. Woods wrote that "Uber and Lyft will likely succeed in proving that the law only protects a small class of drivers, and does not advance broader economic or social interests which the Constitution requires...

The United States and Canada have canceled their planned joint celebration. The opening of the 'Gordie Howe International bridge between Windsor, Ontario and Detroit has been cancelled due to a 'trade threat from President Donald Trump. In an emailed message, Jenna Ghassabeh said that it would not be appropriate to hold a celebration between the two nations in light of the trade action that the United States threatened earlier this week. The bridge will open to traffic on July 27. Windsor Mayor Drew Dilkens told local media that a ribbon-cutting event was scheduled for July 24, with U.S. and Canadian...

Three industry sources reported on Tuesday that the Caspian Pipeline Consortium has ceased receiving oil from Kazakhstan after the suspension of 'loadings' due to a sabotage attack against 'oil tankers? at its Black Sea Terminal. Two sources said that the oil?reservoirs are also full at the terminal. CPC, the company that accounts for 80% of Kazakhstan's oil exports, declined to comment. CPC announced on Monday that oil loads were'suspended' at the Black Sea Port following a ukranian drone attack against tankers. Chevron continues its monitoring of the situation at CPC. Safety and security for personnel are our highest priority. Chevron's...

Houthis, who are allied with Iran, in Yemen, will blockade Saudi Arabia's maritime traffic, they announced on Monday. This would further restrict a global market for energy, which is already severely restricted due to Iran's closing of the Strait?of Hormuz. Why it matters, and what it means to the Iran War and the global energy crises: How big is the risk to global energy markets? It's not clear what the Houthis will do to blockade Saudi Arabia along the Red Sea Coast, their northern neighbor. Or if they would return to attacking shipping. Yemen is located on the strait of?Bab...

The congestion on the U.S. electric grid is becoming a costly bottleneck. It drives up power prices, delays new generation projects, and undermines reliability. But the attention of the electricity industry is still largely focused on generation. Politicians debate?solar panel, natural gas turbines, and nuclear reactors, while utilities boast of billions of dollars in planned investments. PJM Interconnection is the largest U.S. electricity market, spanning 13 states. It provides a stark example. According to Gridraven, transmission congestion cost market players $777.8 in June. This was a drop from the?record-breaking $1 billion congestion bill during a heatwave in May, but it...

The congestion on the U.S. electric grid is a costly bottleneck that drives up prices and delays new generation projects, while also compromising reliability. The electricity industry is still largely focused on the generation of electricity. Politicians debate solar panels, gas turbines, and nuclear reactors, while utilities boast of billions of dollars in planned investments. PJM Interconnection is the largest U.S. electricity market, spanning 13 states. It provides a striking example. According to a recent report from Gridraven, transmission congestion cost market participants $777.8 millions in June. This is down from the record-breaking $1 billion in May during a regional...

CPC announced on Sunday that two?oil tanks were attacked by a gang of armed men at a terminal near the Black Sea coast in?Russia. Oil loadings have been suspended. CPC reported that the ASIA and NISSOS tanks were attacked during loading operations. CPC said that the ASIA tanker caught on fire and was put out. CPC employees and contractors were not injured or killed. CPC confirmed that there was no oil spill, adding that the tankers were still afloat. CPC has not identified any party responsible for the incident. In the past week, both Russia and Ukraine have intensified their...

CPC reported that two drones attacked and damaged an oil tanker, which was chartered to load oil at the Caspian Pipeline consortium terminal near Russia's Black Sea coast. ExxonMobil was said to have chartered the Suezmax class Nordic Zenith. CPC has not identified any party responsible for the incident. In the past week, both Russia and Ukraine have intensified their attacks on shipping in the Black Sea and Azov Seas. This marks a new phase in a war which has been fought mainly on the ground. CPC stated in a press release that a fire had broken out on the...